Foreign Currency A/Cs for
Ethiopians in Diaspora
These types of accounts are opened for Ethiopians
living abroad (who live more than one year abroad)
and Ethiopians by origin but with different
nationalities that are referred as eligible
Ethiopians. Opening of such accounts require the
a) Filling account opening application of Dashen
b) Valid passport /work permit/residence permit (in
the case of individuals).
c) Article & Memorandum of Association (in the case
of institutions that are owned by eligible
d) If institutions, delegation letter to open and
operate account (person who sign delegation letter
should be the one specifically empowered to delegate
account operators in the Article & Memorandum of
e) Documents indicated under item nos. b and c
should evidence existence over one year.
Important points to be noted
a) Credits/deposits to these accounts are allowed
only from sources abroad and from some of NR
accounts in Dashen Bank (foreign currency or NR
Transferable ETB or NRNT accounts.) Credits from NR
accounts are not allowed if payments are from
domestically owned properties (for instance rent.)
Transfers can be done by SWIFT/Wire Transfers
through foreign banks, foreign currency cash notes
supported by customs declaration at the time of
entering the country (airports or borders), foreign
remittance service providers like Western Union and
withdrawals by foreign payment cards.
b) Credits/deposits are not allowed from domestic
accounts or by ETB cash notes.
c) Transfers from these accounts to foreign
countries do not require permit approval. However,
payments for imports require import permit
d) Transfers or payments from these accounts can be
done to any account within Dashen Bank. Transfers to
other bank accounts and all cash payments locally
will be done only in Ethiopian Birr (ETB).
e) Fixed Time deposits will fetch interest as per
the bank’s rate.